LIC did five announcements where the premium payment can extend the payment

Life Insurance Corporation does not want to suffer to its policyholder in this coronavirus pandemic situation, so they have made an announcement where the payment extension can be due till March and April 2020. LIC also said that its offices are still discussing, and they will do, which is feasible for them. They will also follow the restriction, which is done by the local authorities. Their employees are working from home where they can ensure customer service. LIC also declared that policyholder could visit the website and make the inquiry and if they want to do payment, they can do it online.

Here there is five announcements which has made by LIC company:

1.     The policyholder who needs to give premium in February month their expiry date was 22nd March, and they have got the grace period till 15th April.

2.     LIC also told that policyholders can pay through digital payment options where they no need to pay any service charge. The policy holder can also pay the premium through downloading the LIC app on their mobile. They even no need to register on the website for paying a premium, they can directly pay by providing the necessary details.

3.     The premium can be paid from all Axis Bank and IDBI branches through cash.

4.     LIC also declared that there are total of five plans which is available in online like Jeevan Shanti Annuity Plan, pure protection plan Tech Term, Cancer Cover, Nivesh Plus, and SIPP.

LIC also provides the death claim to the policyholder. If any policyholder death happened due to COVID-19, then they will make the payments an urgent basis.

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